May 26, 2024

Rivaroxaban Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

Rivaroxaban, commonly known as Xarelto, is an oral anticoagulant used for the prevention and treatment of venous thromboembolism (VTE) such as deep vein thrombosis (DVT) and pulmonary embolism (PE). Rivaroxaban has overtaken warfarin in the treatment and prevention of stroke in patients with nonvalvular atrial fibrillation. It works by selectively inhibiting Factor Xa involved in blood clotting. Rivaroxaban has advantages such as predictable anticoagulant response, fixed dosing without routine coagulation monitoring, fewer drug and food interactions, lower risk of hemorrhage than warfarin. The growing incidences of VTE, DVT and PE worldwide has resulted in increasing demand for oral anticoagulants like rivaroxaban.

The global Rivaroxaban Market is estimated to be valued at US$ 5,653 million in 2024 and is expected to exhibit a CAGR of 1.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/rivaroxaban-market-1962

Market key trends:

One of the key trends in the Rivaroxaban market is new approvals for additional indications. In 2021, Rivaroxaban received approval from FDA for expanded use in pediatric patients aged 12 years and older having VTE or risk of VTE. It is also being studied for additional cardiovascular indications like stroke prevention in patients with coronary artery disease. Its long-term efficacy and safety in large clinical trials has established it as a viable alternative to warfarin. Various patent expirations of branded rivaroxaban in coming years is likely to boost generic competition and lower overall treatment costs, thereby increasing patient access across countries. These factors are anticipated to drive the growth of global Rivaroxaban market over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as Rivaroxaban is a patented drug and significant capital requirement acts as a entry barrier.

Bargaining power of buyers: The bargaining power of buyers is moderate as rivaroxaban is a prescription drug and patients have limited options.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of a large number of suppliers and low switching costs.

Threat of new substitutes: The threat of new substitutes is high as there are alternative oral anticoagulants available.

Competitive rivalry: The competitive rivalry is high among the key global players.

Key Takeaways

The global Rivaroxaban market is expected to witness high growth.
Regional analysis- The North American region currently dominates the global rivaroxaban market owing increasing patient pool of cardiovascular diseases. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by rising healthcare expenditure and increasing awareness.

Key players operating in the Rivaroxaban market are Janssen Pharmaceuticals Inc. and Bayer AG. Janssen Pharmaceuticals Inc. dominates the global rivaroxaban market share.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it